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Entries in Economic Growth (30)


Bush For President - ICYMI: Jeb's plan for reform and growth 


Jeb 2016!


With the second GOP debate upon us, I want to remind you that last week, Jeb announced his plan for economic growth and reform, which will simplify the tax code and put millions of Americans back to work. Jeb’s plan is built from experience, not rhetoric. As Florida’s Governor, Jeb cut $19 Billion in taxes, passed eight balanced budgets, and fostered economic growth that led Floridians to see their family incomes rise by more $1,300.

Under Jeb’s new plan, Americans will see the lowest tax rate since President Ronald Reagan: More than 42 million middle class families will get a 33% cut in their income tax rate.

Jeb will take aim at the special favors and loopholes that clog up the tax code and cost all of us. Special interest and lobbyists in Washington and Wall Street may not like it, but hardworking taxpayers will.

Americans who are starting up a business can immediately write off a piece of equipment that increases productivity, leading to more cash to hire employees and put toward start-up costs.

The best part: Jeb can do it because he's done it before. He is a trusted reformer, and an experienced tax-cutter.

Jeb’s plan is for the American people, not the Washington insiders. Won’t you sign up to help Jeb win in New Hampshire?

Also, please make sure to watch Jeb’s video detailing his plan HERE.

More more information on Jeb’s plan for reform and growth, visit: Please share with your friends and family!



“Restoring the right to rise in America requires accelerating growth, and that can’t be done without a complete overhaul of the U.S. tax code.”

Governor Jeb Bush
Wall Street Journal
8, 2015

Click Here To Read

Under President Obama, Americans have now endured six years of tax increases, endless regulation, vast new federal programs and $8 trillion in added debt. The president told us this “stimulus” would jump-start the economy. Instead, we got an anemic economy growing at barely 2% a year. Some call this “the new normal”—but it isn’t something we can accept if we are going to restore the opportunity for every American to rise and achieve earned success.


Restoring the right to rise in America requires accelerating growth, and that can’t be done without a complete overhaul of the U.S. tax code.



On Wednesday I am unveiling the plan that, as president, I will submit to Congress and sign into law as the Reform and Growth Act of 2017. My plan centers on accomplishing three major goals:


First, I want to lower taxes and make the tax code simple, fair and clear. It should be easy to understand and make it easy for people to fill out their own tax forms.



Second, I want to eliminate the convoluted, lobbyist-created loopholes in the code.



Third, I believe that the tax code should no longer be an impediment to the nation’s competitiveness with China, Europe and the rest of the world. Liberals will tell you that we need walls and tariffs to protect U.S. businesses from international competitors. The liberals are wrong; we need tax reform.



When we accomplish these big reforms, the result will be a much simpler, leaner and fairer tax code.


I know that enacting these policies works because I’ve done it before. As governor of Florida, I cut taxes every single year—returning a total of $19 billion to Floridians. The state’s economy took off, growing at an average rate of 4.4%. Households saw bigger paychecks as median incomes rose by an average of $1,300. Florida’s pro-growth climate created 1.3 million new jobs. And we did it all while balancing the budget eight years in a row and increasing the state’s rainy-day fund by $8 billion.


By focusing on tax reform like I did in Florida, America can grow faster, too. But tax relief and reform is only part of what we must do. We still have to reduce the regulations that choke so much of the U.S. economy, especially farms, factories and power plants. We have to fix the broken immigration system so that it helps drive a growing economy. We have to take full advantage of America’s energy revolution. Finally, we have to transform the education system so that all children are prepared to succeed in college and at work, and participate fully in the economy we’re trying to build. Taken together, these policies will unleash increased investment, higher wages and sustained 4% economic growth, while reducing the deficit.


To achieve these policies, we have to change the way Washington works. And we have to change who we send there to lead. That’s what my economic plan will achieve, and that’s why I’m running for president.






CEI Today: Labor union lawsuits, Obama's GROW AMERICA Act, credit card interchange fees, and more 

Tuesday, March 31, 2015
In the News Today




Suing McDonald's
Today, the National Labor Relations Board commences over sixty consolidated lawsuits by the Service Employees International Union (SEIU) and union front groups such as the Fast Food Workers Committee against McDonald’s. The suits claim franchisor McDonald’s USA and certain franchisees jointly employed and retaliated against protesting workers. If the government forces this new "joint employer" status on employers, it would have a huge impact not just on employers but consumers, small business entrepreneurs, labor union power, and litigation, says CEI labor policy expert Aloysius Hogan.


Administration's GROW AMERICA Act 2.0 Mixes Bad with Good


The administration’s GROW AMERICA 2.0 proposal isn’t all bad. In fact, it contains two very smart elements that Congress should attach to their own reauthorization package.

First, the administration proposal would repeal the current prohibition on states tolling their own Interstate segments. Second, the current cap on tax-exempt private activity bonds, which bring financing parity to infrastructure development by allowing the private sector to take advantage of similar debt instruments as the public sector, would be raised from $15 billion to $19 billion. > Read more

> Interview Marc Scribner



International Panel Outlines Problems with EU Interchange Fee Regulation

Interchange fees are the fees levied by banks and payments card networks from merchants and vendors when a consumer uses a payment card to purchase a good or service. The proposed EU regulation will cap these fees. ​The experience from the US suggests that these rules will be costly to the people of Europe, and especially to people on minimum wage who find it hard to afford bank fees already. > Read more

Saturday, 10am ET






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NH Senate - ICYMI- Senate advances critical business tax reductions 

New Hampshire Senate

News Release


Cuts would benefit 95% of NH private sector workforce

Concord, NH -- The New Hampshire Senate today passed two important bills as part of the Senate Republican agenda to help bolster New Hampshire’s economy by reducing the Business Profits Tax from 8.5% to 7.9% and the Business Enterprise Tax by 10% over the next three budgets.

“Our entire focus this session is to get New Hampshire’s economy moving and passing a state budget that spends only what the state can afford.  This modest cut in the state’s business taxes sends a message to our job creators in New Hampshire and those looking to move here that we are serious about wanting their business and the jobs they bring with them,” said Senate President Chuck Morse (R-Salem).

“Passing these bills was a critical step in how the Senate will go about building the next budget. As our economy expands, we can certainly afford to make modest business tax cuts a priority within our $10.5 billion state budget,” Morse continued. “The cost of implementing job-friendly reductions is one-quarter of one-percent of the entire State’s current operating budget.”

“New Hampshire job growth has lagged. Hardworking business owners have had difficulty expanding or hiring new employees,” said Senator Jeb Bradley (R-Wolfeboro).  “Reducing the rate of the Business Profits Tax and Business Enterprise Tax will help companies re-invest in people, growing their businesses and adding new jobs – the types of things we need and hope to see more of in the state.”

“With the Governor’s support, our state can be among the 27 other states that have reduced their corporate tax rates to spur economic growth. Doing nothing will allow New Hampshire to pay the highest business tax rate in New England alone,” said Bradley.

“New Hampshire right now has the 3rd highest business tax rates in the country which is a significant burden for employers. By reducing the BET and BPT, New Hampshire will take a step towards restoring a competitive business environment when compared to other states in the region and nationally,” said Andy Sanborn (R- Bedford).

“This was the right decision because it will let everyone know that New Hampshire is open for business. Reducing this tax barrier will not only incentivize existing business owners who pay taxes to grow their business, but will also encourage new employers to move into the state.”

“I urge the House and Governor Hassan to support these important bills, and send a strong signal that we are serious about creating economic opportunity for everyone,” Sanborn added.




NHDP - ICYMI: Telegraph Editorial: "Tax cuts offer no growth guarantees"

Key Point: "... we’re also not under the illusion that it would lead to an economic promised land of jobs and revenue growth. The more prudent assumption to make when lowering tax rates is that revenue will be lost and will have to be made up by cutting state programs and services or finding new revenue sources... Before lawmakers cut business taxes, they should first explain how they would make up the lost revenue – preferably by identifying offsets that don’t involve magical thinking or hurt the state’s most vulnerable."
See below for an excerpt or click here for the full Telegraph Editorial:

Nashua Telegraph Editorial: Tax cuts offer no growth guarantees

If you were sitting around the kitchen table discussing how best to improve the family budget picture, you’d have to make some choices.

Some of them would be obvious, like canceling that family vacation everybody was looking forward to, buying cheaper brands of groceries, perhaps, and not going out to eat.

Other choices would be more involved, like whether someone in the family should get a part-time job to bring in extra money.

The last thing you’d probably do is volunteer for a cut in pay.

Yet, that’s the direction some Republicans in the New Hampshire Senate are advocating when they suggest that the state cut its two major business taxes, the Business Profits Tax and the Business Enterprise Tax.

One bill in the Senate, sponsored by Sen. Jeb Bradley, R-Wolfboro, would lower the state’s Business Profits Tax from 8.5 percent to 8 percent over 4 years. “Lowering the state’s Business Profits Tax would continue to encourage businesses to seek growth and would help attract new businesses to New Hampshire,” Bradley said.

It would also mean $10 million less in revenue for the state in fiscal years 2016 and 2017, and $20 million less in fiscal years 2018 and 2019.

Another bill, sponsored by Sen. Andy Sanborn, R-Bedford, would lower the Business Enterprise Tax from .75 percent to .675 percent over three years and would result in $7.6 million less in fiscal year 2017, $15 million less in 2018 and $22 million less in fiscal year 2019.

Gov. Maggie Hassan has said the tax cuts would create a hole in the budget, though Bradley and Sanborn see things differently.

The underlying premise is that cutting the rates would create more revenue by enticing new businesses to relocate to the state, or prompting those that are already here to expand and hire more workers.

That might be true if the state’s business taxes were the only obstacle to economic growth, but they’re not. Other factors include high energy costs, an aging, less-productive workforce and the exodus of the state’s young adults. As a practical matter, a half percent decrease in the BPT over 4 years is little more than symbolic and is unlikely to turn the state into a business magnet.

We understand that the state’s business tax rates are among the highest in the nation, and we’re not inherently opposed to some reduction. But we’re also not under the illusion that it would lead to an economic promised land of jobs and revenue growth.

The more prudent assumption to make when lowering tax rates is that revenue will be lost and will have to be made up by cutting state programs and services or finding new revenue sources.

Honesty dictates that lawmakers identify which areas of government would take the hit if the revenue growth they project fails to materialize, as we think is the case.

The state’s higher education system? That was targeted the last time Republicans controlled both chamber of the Legislature in 2011-12, but New Hampshire college graduates already carry the highest student debt burden in the country and UNH is already out of reach for many of them. Cutting state support for higher education will only accelerate the outward migration of young people from the state.

Health and Human Services is the state’s largest agency, but they’re already facing a $58 million budget shortfall that is partly the result of the state’s settlement of a lawsuit brought by the federal government with regard to mental health services, and another brought by the state’s hospitals over a tax that was ruled unconstitutional. [...]

Before lawmakers cut business taxes, they should first explain how they would make up the lost revenue – preferably by identifying offsets that don’t involve magical thinking or hurt the state’s most vulnerable.

Click here for the full Telegraph Editorial: